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The Star
04-07-2025
- Business
- The Star
UOB, FMM, SMF ink deal to boost manufacturing ties
From left: Federation of Malaysian Manufacturing president Tan Sri Soh Thian Lai, UOB Malaysia CEO Ng Wei Wei, UOB deputy chairman and CEO Wee Ee Cheong, Singapore Deputy Prime Minister and trade and industry minister Gan Kim Yong and deputy investment, trade and industry minister Liew Chin Tong. PETALING JAYA: United Overseas Bank (M) Bhd (UOB Malaysia) has signed a tripartite memorandum of understanding (MoU) with the Federation of Malaysian Manufacturers (FMM) and the Singapore Manufacturing Federation (SMF) to strengthen regional economic integration and promote foreign direct investment (FDI) flows. The bank, in a statement, said the partnership aims to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB's regional network and expertise to help businesses, especially SMEs, expand across borders and grow sustainably. It supports the 2025 Asean Summit's theme of inclusivity, of which Malaysia chaired and hosted, ensuring that businesses of all sizes can participate in and benefit from regional growth. The agreement also builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments. UOB Malaysia CEO Ng Wei Wei said the bank is proud to be an early JS-SEZ supporter, having launched the Green Lane with Invest Johor, set up SEZ Desks, and introduced fast-track account openings. 'Since 2024, UOB has committed RM11.5bil in financing to support businesses in Johor and is actively facilitating RM10bil of FDI flows into the zone. 'Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to Asean's industrial growth,' she said. The MoU reflects UOB's long-term commitment to Asean's sustainable growth, aiming to promote cross-border opportunities and deepen collaboration in trade, investment, and manufacturing between Singapore and Malaysia, for stakeholders and ecosystem partners. To support these efforts, UOB will provide advisory services, including tailored market entry and in-market guidance for FMM and SMF members. These services will help businesses navigate the financial and operational aspects of establishing a presence in Singapore, Malaysia, and across South-East Asia. FMM president Tan Sri Soh Thian Lai said the collaboration sets the stage for more cross-border success stories under the JS-SEZ.
The Sun
03-07-2025
- Business
- The Sun
UOB, FMM, SMF in pact to spur cross-border manufacturing projects, investments
PETALING JAYA: In a move to bolster regional economic integration and facilitate foreign direct investment (FDI) flows, UOB signed a tripartite memorandum of understanding (MoU) with the Federation of Malaysian Manufacturing (FMM) and the Singapore Manufacturing Federation (SMF) at the Asean Conference in Singapore today. The strategic partnership aims to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB's regional network and sectoral expertise to help businesses, especially SMEs, scale across borders, access new markets, and grow sustainably. The collaboration supports the 2025 Asean Summit's theme of inclusivity, ensuring that businesses of all sizes can participate in and benefit from regional growth. It also builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments. Deputy Investment, Trade and Industry Minister Liew Chin Tong said, 'One of the key visions laid out for the JS-SEZ is to establish a better integrated and resilient supply chain ecosystem across the Malaysia-Singapore border. Both Johor and Singapore can leverage on our complementary capacities, join hands to drive innovation and enhance productivity. This MoU between FMM, SMF and UOB is therefore timely and propitious to align the strengths of Malaysia and Singapore for greater regional economic growth in the current global trade climate.' UOB Malaysia CEO Ng Wei Wei said, 'UOB is proud to have been an early supporter of the JS-SEZ, launching initiatives such as the Green Lane with Invest Johor and setting up dedicated SEZ Desks and introduced a fast lane account opening services. Since 2024, UOB has committed RM11.5 billion in financing to support businesses in Johor and is actively facilitating RM10 billion of FDI flows into the zone. Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to Asean's industrial growth.' Reflecting the bank's long-term commitment to Asean's sustainable economic growth, the MoU outlines two key objectives. The first is to promote opportunities by facilitating and exploring business opportunities and cross-border projects in the region, particularly between Singapore and Malaysia, for stakeholders and ecosystem partners. The second is to deepen collaboration by driving joint business, trade, and investment initiatives focused on strengthening the cross-border manufacturing ecosystem. To support these efforts, UOB will provide advisory services, including tailored market entry and in-market guidance, to FMM and SMF members. These services will help businesses navigate the financial and operational aspects of establishing a presence in Singapore, Malaysia and across Southeast Asia. FMM president Tan Sri Soh Thian Lai said, 'This collaboration sets the stage for more cross-border success stories under the JS-SEZ. FMM is committed to supporting our members in leveraging this important bilateral initiative to build stronger regional connections. With the support of UOB and SMF, our manufacturers, especially SMEs, will be better equipped to pursue growth opportunities, foster innovation, and become integral players in ASEAN's evolving industrial landscape.' SMF president Lennon Tan said, 'Asean's competitiveness rests on how quickly our manufacturers can innovate, scale and connect. Through this partnership with UOB and our Malaysian counterpart FMM centred on the Johor-Singapore Special Economic Zone, SMF will help businesses to seize cross-border opportunities, accelerate innovation, and strengthen supply chain resilience. Together we will open clearer paths to capital, talent and technology, enabling sustainable growth and keeping the Malaysia–Singapore manufacturing corridor competitive and future-ready.'
The Star
03-07-2025
- Business
- The Star
UOB, FMM and SMF ink MoU to boost Malaysia-Singapore manufacturing ties
From left: Federation of Malaysian Manufacturing president Tan Sri Soh Thian Lai, UOB Malaysia CEO Ng Wei Wei, UOB deputy chairman and CEO Wee Ee Cheong, Singapore Deputy Prime Minister and trade and industry minister Gan Kim Yong and deputy investment, trade and industry minister Liew Chin Tong. KUALA LUMPUR: United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has signed a tripartite memorandum of understanding (MoU) with the Federation of Malaysian Manufacturers (FMM) and the Singapore Manufacturing Federation (SMF) to strengthen regional economic integration and promote foreign direct investment (FDI) flows. The bank, in a statement, said the partnership aims to strengthen the Malaysia-Singapore manufacturing corridor by leveraging UOB's regional network and expertise to help businesses, especially SMEs, expand across borders and grow sustainably. It supports the 2025 Asean Summit's theme of inclusivity, of which Malaysia chaired and hosted, ensuring that businesses of all sizes can participate in and benefit from regional growth. The agreement also builds on the momentum of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement between both governments. UOB Malaysia CEO Ng Wei Wei said the bank is proud to be an early JS-SEZ supporter, having launched the Green Lane with Invest Johor, set up SEZ Desks, and introduced fast-track account openings. 'Since 2024, UOB has committed RM11.5bil in financing to support businesses in Johor and is actively facilitating RM10bil of FDI flows into the zone. 'Through this MoU, we look forward to working with FMM and SMF to help their members seize cross-border opportunities and contribute to Asean's industrial growth,' she said. The MoU reflects UOB's long-term commitment to Asean's sustainable growth, aiming to promote cross-border opportunities and deepen collaboration in trade, investment, and manufacturing between Singapore and Malaysia, for stakeholders and ecosystem partners. To support these efforts, UOB will provide advisory services, including tailored market entry and in-market guidance for FMM and SMF members. These services will help businesses navigate the financial and operational aspects of establishing a presence in Singapore, Malaysia, and across Southeast Asia. FMM president Tan Sri Soh Thian Lai said the collaboration sets the stage for more cross-border success stories under the JS-SEZ. 'FMM is committed to supporting our members in leveraging this important bilateral initiative to build stronger regional connections. With the support of UOB and SMF, our manufacturers, especially SMEs, will be better equipped to pursue growth opportunities, foster innovation, and become integral players in Asean's evolving industrial landscape.' Meanwhile, SMF president Lennon Tan said: 'Through this partnership with UOB and our Malaysian counterpart FMM centred on the Johor-Singapore Special Economic Zone, SMF will help businesses to seize cross-border opportunities, accelerate innovation, and strengthen supply chain resilience.' 'Together we will open clearer paths to capital, talent and technology, enabling sustainable growth and keeping the Malaysia–Singapore manufacturing corridor competitive and future-ready,' he said.
The Star
24-06-2025
- Business
- The Star
UOB Malaysia successfully prices Tier 2 Sukuk Wakalah
UOB Malaysia chief executive officer Ng Wei Wei KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) has priced its RM750mil Basel III-compliant Tier 2 subordinated Islamic medium-term notes (Tier 2 Sukuk Wakalah) on June 19. In a statement, the bank said the issuance is part of its RM5bil Sukuk Wakalah Programme, established in January 2024 under the Shariah principle of Wakalah Bi Al-Istithmar. The Tier 2 Sukuk Wakalah, initially targeted at RM500mil, was upsized to RM750mil following strong demand from a diverse group of over 20 high-quality investors, including insurance companies, fund managers, government-linked investment entities, banks, and private banks. UOB Malaysia said the Tier 2 Sukuk Wakalah was fixed at a profit rate of 3.85% per annum, representing a spread of 36 basis points above the seven-year benchmark Malaysian Government Securities (MGS). The Sukuk is scheduled to be issued on July 3, 2025 and matures on July 3, 2037, with an optional redemption on July 2, 2032. "We are pleased that the second tranche of our Sukuk Wakalah programme has been met with such strong investor interest, following the success of our debut issuance last year. 'The upsized issuance reflects continued confidence in UOB Malaysia's credit strength and long-term strategic direction. It also reflects the depth and maturity of Malaysia's Islamic debt capital market, which continues to attract a diverse and high-quality investor base. This outcome affirms both the resilience of Malaysia's financial system and the enduring strength of the country's strong economic fundamentals,' chief executive officer Ng Wei Wei said. Rated AA1 by RAM Ratings, the Tier 2 Sukuk Wakalah qualifies as UOB Malaysia's Tier 2 capital under Bank Negara Malaysia's Capital Adequacy Framework for Islamic Banks. UOB Malaysia and CIMB Investment Bank acted as the joint lead managers for this transaction.
New Straits Times
24-06-2025
- Business
- New Straits Times
UOB Malaysia fixes RM750mil sukuk profit rate at 3.85pct
KUALA LUMPUR: UOB Malaysia has priced its RM750 million Basel III-compliant Tier 2 subordinated Islamic medium-term notes (Tier 2 sukuk wakalah) on June 19. The sukuk is part of UOB Malaysia's RM5 billion sukuk wakalah programme, established in January 2024 under the Shariah principle of Wakalah Bi Al-Istithmar. Initially targeted at RM500 million, the Tier 2 sukuk wakalah offering was upsized to RM750 million following strong demand from a diverse group of more than 20 high-quality investors, the bank said. They included including insurance companies, fund managers, government-linked investment companies, banks and private banks. The Tier 2 sukuk wakalah was fixed at a profit rate of 3.85 per cent per annum, representing a spread of 36 basis points above the seven-year benchmark Malaysian Government Securities (MGS). The sukuk is scheduled to be issued on July 3 and matures on July 3, 2037, with an optional redemption on July 2, 2032. UOB Malaysia chief executive officer Ng Wei Wei said the bank is pleased that the second tranche of its sukuk wakalah programme has been met with such strong investor interest, following the success of its debut issuance last year. "The upsized issuance reflects continued confidence in UOB Malaysia's credit strength and long-term strategic direction. "It also reflects the depth and maturity of Malaysia's Islamic debt capital market, which continues to attract a diverse and high-quality investor base. "This outcome affirms both the resilience of Malaysia's financial system and the enduring strength of the country's strong economic fundamentals," she added. Rated AA1 by RAM Ratings, the Tier 2 sukuk wakalah is intended to qualify as UOB Malaysia's Tier 2 capital on a consolidated basis under Bank Negara Malaysia's Capital Adequacy Framework for Islamic Banks (Capital Components).
